No DAMN Wrong. The borrowers are not the ones writing out worthless derivative paper 10x the mortgage. Why are people so dense here?
Greed and capitalism are at fault. This started as a few people writing subprime and others followed due to greed. The Greed ran all the way from the real estate agents and appraisers to the ibanks as everyone wanted their piece of the pie at any cost. But those that were buying were just as at fault as the rest. Without the demand from joesixpack, the comps would not have skied and help support the appraiser's report for the next jacked up loan.
You're dense if you don't think deadbeats living beyond their means are at fault. This entitlement mentality and abdication of personal responsibility is exactly why our economy is in the shape it is now.
Without the DemoCraps "Affirmative Action Lending" policy, there NEVER would have even been such a thing as "sub-prime"... non-qualified J6Ps would have never been involved, and we wouldn't have this mess today. LOTS of people abused and did wrong.. but the DemoCraps started it... They deserve the keystone blame...
No, you're a liar. You da man. http://www.elitetrader.com/vb/showthread.php?s=&postid=1791497&#post1791497
The McDonald's premise was yours, not mine - I merely correctly your flawed analogy. And if banks loaned to deadbeats then they did, in fact, GIVE AWAY THE MONEY!
Nah... you just proved you're a liar and you're trying to obfuscate the truth, just like Jack... you're too easy! You have a great weekend too